and expanding the tax base. >> president obama will be taking his message on the road next week to a virginia shipbuilding operation. virginia, with its massive defense industry, would be hit hard by the spending cuts. arthel. >> molly henneberg live from washington. thanks. >> as the u.s. faces its own economic problem, britain's economy is facing a serious new setback. moody's, the credit rating agency, announced the first ever downgrade of the u.k.'s pristine credit rating by a notch, blaming weak growth and political turmoil for throwing its deficit reduction plan off course. david ram con says he has full confidence in his finance minister, george osborne, despite criticism that their debt strategy is failing to deliver, britain now joining the u.s. and france in having lost its triple a rating from at least one major agency. >>> serious new concerns out of iran asment country's powerful revolutionary guard begins new military exercises, at the same time iranian scientists announcing plans to build at least a dozen more nuclear power plants. conner powell has more from our middle east bu
